SSI Chairman Nguyen Duy Hung shared insights at the Extraordinary General Meeting held on September 25, 2025.
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October 8, 2025, could mark a historic milestone for Vietnam’s stock market if FTSE Russell decides to upgrade its classification.
According to the latest announcement, FTSE Russell will release its annual equity market classification results after the U.S. market closes on October 7, 2025, corresponding to October 8, 2025, Vietnam time.
Currently, two markets are on the watchlist for potential upgrades: Vietnam, from Frontier to Secondary Emerging Market status, and Greece, which may advance from Emerging to Developed Market status.
The possibility of an upgrade dominated discussions at SSI Securities’ Extraordinary General Meeting on September 25, 2025. SSI’s Chairman, Nguyen Duy Hung, addressed the issue, emphasizing that an FTSE upgrade is not a magic solution. Many anticipate a market boom post-upgrade, but in reality, it serves as a “certification” that Vietnam’s market has aligned with international standards.
The market before and after the announcement remains fundamentally the same. The upgrade reflects the market’s prior achievements in meeting FTSE’s criteria. Thus, the announcement day may attract more attention but doesn’t signify an overnight improvement, as the conditions were already in place, noted Chairman Nguyen Duy Hung. The certification boosts investor confidence and provides foreign investors with a stronger rationale to increase their holdings.
The upgrade decision is akin to a health report, assessing the market’s current state. “Given the ongoing developments, I’m confident the market will be upgraded in early October, with over 90% likelihood,” Mr. Hung stated.
Post-upgrade, there’s still much to strive for. Achieving the FTSE upgrade is just one of many goals, not the final destination.
Nguyen Ngoc Anh, CEO of SSIAM, highlighted SSI’s collaboration with the State Securities Commission and the Ministry of Finance over the past two years. The market upgrade is one of many outcomes from the collective efforts of regulators and market participants. Recent policy changes have encouraged foreign investor participation, and the KRX technology system has enabled new product launches.
In a Reuters article dated September 16, Finance Minister Nguyen Van Thang expressed confidence that FTSE Russell will upgrade Vietnam to Emerging Market status next month. “I’m quite confident about the upgrade,” the Minister told Reuters at a London conference, where he also met with FTSE Russell and London Stock Exchange (LSE) representatives. He confirmed that Vietnam has met the index provider’s criteria.
On September 12, 2025, Deputy Prime Minister Ho Duc Phoc approved the Plan to Upgrade Vietnam’s Stock Market. The short-term goal is to meet FTSE Russell’s criteria for upgrading from Frontier to Secondary Emerging Market status in 2025 and maintain this classification. Long-term goals include meeting MSCI’s Emerging Market criteria and FTSE Russell’s Advanced Emerging Market criteria by 2030.
– 16:07, September 25, 2025
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